UPM, a major forest industry player, has divested its 50% ownership of the ASD Altpapier Sortierung Dachau GmbH (ASD) paper sorting plant in Germany.
The buyer is ROWE GmbH, a company specializing in recovered paper services, processing, and logistics.
ROWE already held the remaining 50% stake in ASD, making them the sole owner upon completion of the sale. Financial details of the transaction were not disclosed.
UPM expressed confidence in ROWE's stewardship of ASD, citing their long-term commitment to recovered paper lifecycle management and strong expertise in collection, sorting, and handling. Teija Konttori, Director Fibre Sourcing at UPM, highlighted the growth potential in the recovered paper market, believing "ASD together with ROWE and Veolia is in a great position to capture this market opportunity."
ROWE, a subsidiary of Veolia Umweltservice, echoed this sentiment. Guido Adomßent, Chief Operating Officer, expressed his satisfaction with the acquisition and his intention to "build on this successful partnership also after the full acquisition of ASD."
The sale will not impact ASD employees, ensuring a smooth transition for the company's workforce.
This move by UPM streamlines their portfolio and allows them to focus on their core business areas. For ROWE and Veolia, it strengthens their position in the German paper recycling market and provides a platform for further growth in the recovered paper sector.
UPM Communication Papers, a division of UPM, is a leading global producer of graphic papers for various printing and office applications. With 11 mills and 6,000 employees, it offers high-quality, sustainable paper products. The parent company, UPM, operates across six business areas, employing 16,600 people globally with annual sales of EUR 10.5 billion. Both entities prioritize sustainability and innovation in renewable solutions, adhering to UN climate targets and science-based environmental practices.
